Drive Shack Inc. Closes Sale on 11 of Its American Golf Properties
Drive Shack Inc. (DS)
Last drive shack inc. earnings: 11/11 10:45 pm
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ir.driveshack.com
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Source: Business Wire
National Golf Company Locks in Capital to Further Growth & Expansion Plans NEW YORK--(BUSINESS WIRE)-- Drive Shack Inc. (“Drive Shack” or the “Company”) announced today the completion of the sales of 11 golf properties owned and operated by its American Golf subsidiaries. Generating proceeds of approximately $82.5 million, the courses sold include Canyon Oaks Country Club in Chico, CA; El Camino Country Club in Oceanside, CA; Monterey Country Club in Palm Desert, CA; Oakhurst Country Club in Clayton, CA; Oregon Golf Club in West Linn, OR; Palm Valley Country Club in Palm Desert, CA; Plantation Country Club in Garden City, ID; Seascape Golf Club in Aptos, CA; Sunset Hills Country Club in Thousand Oaks, CA; The Trophy Club of Apalachee in Dacula, GA; and Wood Ranch Golf Club in Simi Valley, CA. The net proceeds from the sales were used, together with cash on hand, to prepay $102 million in outstanding debt
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